Will Ferrell Accepts Mark Twain Prize for Comedy

Move over Emmy Awards, step aside Oscars. When it comes to comedy, one of the highest accolades in the land may be deemed the Mark Twain Prize for American Humor. Last night Will Ferrell was honored for his long-running career in TV, film and online endeavors (he's actually one of the creators of FunnyorDie.com)!

The 44 year-old Old School star was feted for his George W. Bush impersonation, not to mention his Broadway show, You're Welcome America: A Final Night with George W. Bush. RadarOnline pointed out the ceremony will be broadcast on PBS net Monday night and will feature stars who took to the podium to honor the former Saturday Night Live cast member such as Conan O'Brien, Jack Black, Matthew Broderick and Ben Stiller.

Conan explained, "Will magnifies and celebrates his flaws, just to entertain us." In fact, the Anchorman was the first and last guest during Conan's stint on The Tonight Show. He quipped, "It's a rare friend who's going to stick with you for five and a half months!"

Although the prize has only been around for 12 years, past winners include comedic greats like Tina Fey, Bill Cosby, Billy Crystal and Richard Pryor. Congratulations, Will!